CANARAIL partners with Colombian company

Montreal-based CANARAIL on Tuesday said it had formed "an exclusive partnership with the railway engineering and consulting firm A. de G. Ingenieria from Colombia."

CANARAIL described the move as "a unique opportunity to propose a high quality and credible service offering in Colombia." Calli Valle, Colombia-based A. de G. Ingeniera, founded in Bogota in 1992, specializes in rail transport engineering.

"The projected investments to accommodate the Colombian mining industry represent an attractive set of business opportunities for CANARAIL's know-how, said CANARAIL President and CEO Miguel Valero. "To ensure our success in this new market, we had to rely on a local partner that shares the same values as our company. This agreement with A. de G. Ingenieria is another step in the right direction."

CANARAIL noted Colombia intends to invest $21 billion in the next 10 years in its rail infrastructure.

"On our side, this partnership with CANARAIL is very important for our firm," said Mr. Gusatvo Arias de Greff, managing director of A. de G. Ingenieria. "It will allow us to combine our local expertise with CANARAIL's international knowledge and depth in order to participate in the development of our country's rail services."